Newbie - when to take profit

[Houdini76]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

[dothebeats]

Any profit is a profit nonetheless, but if you see the market is going well and the trend is heading towards positive directions, you just leave it as it is or place a sell order on a price point that you're comfortable taking profits in. Say for example, price is @ $8000 today, you bought in @ $7900 but the market is posed to get more gains which is projected to be somewhere around $8300 - $8400. The logical thing to do here is to not be greedy and gauge whether the market can do a push. How? Check order books in exchanges and volumes. Personally I'd put my sell @ $8100 and just wait for another entry point should my target be met early. I gained $200 easy with no stress and that's a profit already.

[harizen]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Honestly, that was a tough question because our answers are based on our own approach. It's your money so you can't just apply all the suggestions and advice here as we might have different output and result in the end.

There is a so-called price range where you are comfortable with the profits earned. But remember that once you hit that SELL or TRADE your BTC back to fiat, that's it and you have to create another round of buying and look for a good entry point and expect that the wind will turn to the way you want.

Bottom line: Since you are in confusion, try to have a test. Work on getting your profits and leave your capital. Create a set of "what if" and compute what might be your earnings if you didn't take out the capital.

[rodel caling]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Depends on your target how much percent you to take profits from your capital if want to double your money or tripple your money ypu need to wait long time to get it.
But if you want get fast earn profits just put sell margin target then you can get profits and wait again for the right timing. You can leave your capital or take it off all and switch to invest in another coins.

[hurry_hore]

I think there will be depending on:

1. Your goal / objective
2. Your strategy to reach the goal

1. If your goal is investment, then it should be for long term at least 2 years. If your goal is trading, you can withdraw just the profit or all capital. Next you can think for the strategy
2. The strategy can be put all the capital just into one coin / project, but most people say that "put eggs into several basket is better for safety and security". Then the profit can be invested into other potential coin/token for safety and security and also perhaps for bigger profit.

[numanoid]

Always take profit after a major pump, or significant announcement. HST-decision token is due for a major pump and announcement on Monday 06.17.19

Don't listen to this HST shill account. Why don't you buy all HST token on market if you really think that's a good coin?

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Take your profit and let your initial investment isn't best way. That only used while you gambling, take as much as profit you can and let your initial bankroll to prevent big loss. Do you ever heard about compound interest? That's when you invested all of your profit again with your initial investment, and let it after some years

[Julien_Olynpic]

You can’t say absolutely exactly after what price increase you need to sell. This question can be answered by technical analysis. Otherwise, it will be just a random choice. The price after the sale may continue to rise for a long time, or may immediately fall. Therefore, it is better to look at the chart and look for signs of market strength or weakness there.

[Kasabus]

You don't have to take it right your profit right away, the strategy that I'm using and makes me successful is I always take my capital and just trade my profit so there will be no risk in my part. However, you cannot do it in just a short period of time.

In your example, you have a little profit and you want to take it, I don't suggest that because you don't make profit all the time, as a trader, you also have losing day and that would reduce your capital if you keep taking profit, maybe just give more time, add your profit to your total capital so you can grow it bigger.

[MonsterV]

You can’t say absolutely exactly after what price increase you need to sell. This question can be answered by technical analysis. Otherwise, it will be just a random choice. The price after the sale may continue to rise for a long time, or may immediately fall. Therefore, it is better to look at the chart and look for signs of market strength or weakness there.

Not even technical analysis can answer that, actually no one can really say when to take profit because we don't have the crystal ball so know what will going to happen in the future. To the OP, why don't you learn about entry and exit strategy. This is a good tip for beginners like you so that you can manage your profit if you have this kind of strategy.

Namely the entry and exit strategy must be done with technical analysis. Your statement is true that no one really knows when to take profits, but with technical analysis we know when to take profits and not take profits carelessly.

And for OP, please study in-depth technical analysis again, you will know how to entry and exit trading. When you have made a profit, you can buy back if your technical analysis says prices will continue to rise, but if your technical analysis says otherwise then you must determine the support line to buy back.

[maxreish]

It all depends on your decision and style and of course depends on the situation. If there is a major pump and if i need money, i will cash out half of my profits then reinvest half of it and buy at dip. Or if not necessarily needed, then convert into fiat or stable coin then wait for bearish moment until you buy another coin. The significant here is that you were earning profits, that "when" answer always depends  on you.

[JNvak]

Please, consider using Galaxy Score. It's a feature that takes into account various factors and then tells you when to buy, sell or hold. This innovative tool is currently available on CoinDeal. It may be extremely useful to you since you're a newbie. (And it is for me since I'm not so-newbie )

[Babyrica0226]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

You know what, when you enter into bitcoin trading make sure you know what you are doing dude.
Because trading always has a risk involve,so you must aware of that. So, all I can say is when buyers are aggressive to buy
it means bitcoin will goes higher in my opinion.

[carlfebz2]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

You know what, when you enter into bitcoin trading make sure you know what you are doing dude.
Because trading always has a risk involve,so you must aware of that. So, all I can say is when buyers are aggressive to buy
it means bitcoin will goes higher in my opinion.

You arent answering his question dude! He do talks if he does right on selling not talking about the risk behind trading.For OP, its better not to depend on usd value though.
Lets say you do put up 0.01 btc then the price do rise up then sell it all with fiat pair then when the price goes down then buy cheaper.Rinse and repeat until you accumulate bitcoins on earlier entries or buying on cheaper rates.

[emerejames]

It is always difficult to replace capital when one touch it, even in open market many business liquidate because they touch the main capital. So I will advice you to take the €50, moreover if u don't have any urgent financial need, I will advice you to add the €50 to the capital to make it bigger any time there is pump up because in crypto the higher the Capital the higher the profit. But if you notice that the market is going down, then you can take all and keep them safe so that you can buy later.

[leowonderful]

There's a number of ways to take profit, but one of my favorite ones is using FTA (or first trouble area). At its most basic, it's simply exiting a trade (usually the whole trade) at whatever price level is closest to your entry that the price action could turn in the opposite direction. Relatively simple and effective since most people can accurately identify potential supports and resistances on a chart, and it's an easy way to apply that knowledge effectively. You could also just take partial profits around supports or resistances if you're going long or short.

[beerlover]

I think when considering something as low as 700 pounds you should look to increase your position and have a big portfolio instead of trying to trade, that is an amount that could be valid as an investment not as a trading capital. Of course there are tons of people who trade with less and so can you if you want to but I wouldn't suggest it since making just a couple bucks would mean nothing whereas if you increase your position with time and invest more money in the end you can do a big deal.

Unfortunately, in economics small scale investments rarely have big impacts whereas big investments actually can make a big difference in your life, that is why wealthy people manage to keep making more and more money since investing big amounts have bigger returns even in % not just pounds.

[sana54210]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Sometimes, this question can really be though to answer, because the time you bought at that 700, there is a certain  quantity of bitcoin it would have bought, and even if bitcoin increase in value, it would still be the same quantity because the profit you are referring to now is profit in fiat and not in bitcoin, the only way you can record profit in bitcoin is when you either remove the profit, which mean removing the profit would still reduce your quantity, then wait for bitcoin to go back to the value where you bought the seven hundred and buy that $50 before you can have more quantity.

So the more you remove the profit you see is going to be the more that you lose the quantity of bitcoin that you have, so my won advise would just be for you to leave your coin till it gets to peak before removing everything.

[matt7]

Please, consider using Galaxy Score. It's a feature that takes into account various factors and then tells you when to buy, sell or hold. This innovative tool is currently available on CoinDeal. It may be extremely useful to you since you're a newbie. (And it is for me since I'm not so-newbie )

It is quite interesting thing that galaxy score, hope it will help me a bit someday. Also Coindeal is pretty reliable exchange, good option for newbies, recently I've found ranking TOP 5 trading platforms for EU and CD is on the 1st place: https://cryptomag.me

[breathlessz]

why do you plan to buy at a more expensive price? when you are selling prices should be at resistance and buy back when there is a price correction, so that your assets will multiply

[ethereumhunter]

If I were you, I will take £50 and will wait for another time to see bitcoin is down, and I will buy bitcoin again if the price can get down from the first time I bought. Then if my order filled, I will wait for a while until the price can increase back and if the price suddenly can increase for more than £50, I will sell it again. I don't want to wait for a long time to sell because I need to make a profit and if necessary, I want to make a profit every day.